Copart, Inc. (NASDAQ:CPRT) Stock Position Reduced by Cadence Bank

Cadence Bank trimmed its position in Copart, Inc. (NASDAQ:CPRT) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,353 shares of the business services provider’s stock after selling 196 shares during the quarter. Cadence Bank’s holdings in Copart were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CPRT. HighPoint Advisor Group LLC increased its stake in Copart by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 9,747 shares of the business services provider’s stock valued at $577,000 after purchasing an additional 175 shares during the last quarter. Sandy Spring Bank grew its position in shares of Copart by 59.5% during the 4th quarter. Sandy Spring Bank now owns 472 shares of the business services provider’s stock valued at $27,000 after buying an additional 176 shares during the last quarter. Lindbrook Capital LLC raised its stake in Copart by 3.2% during the fourth quarter. Lindbrook Capital LLC now owns 6,007 shares of the business services provider’s stock worth $345,000 after acquiring an additional 184 shares during the period. Everpar Advisors LLC lifted its holdings in Copart by 4.3% in the fourth quarter. Everpar Advisors LLC now owns 4,811 shares of the business services provider’s stock worth $276,000 after acquiring an additional 199 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Copart by 0.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 75,170 shares of the business services provider’s stock valued at $4,314,000 after acquiring an additional 200 shares during the period. 85.78% of the stock is owned by institutional investors and hedge funds.

Copart Stock Performance

Copart stock opened at $59.68 on Friday. Copart, Inc. has a one year low of $48.05 and a one year high of $64.38. The company has a 50-day simple moving average of $56.22 and a 200-day simple moving average of $56.87. The firm has a market capitalization of $57.66 billion, a P/E ratio of 40.05 and a beta of 1.22.

Copart (NASDAQ:CPRT) last posted its earnings results on Thursday, February 20th. The business services provider reported $0.40 EPS for the quarter, topping the consensus estimate of $0.38 by $0.02. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Copart had a net margin of 32.27% and a return on equity of 19.31%. As a group, sell-side analysts forecast that Copart, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Argus downgraded Copart from a “buy” rating to a “hold” rating in a report on Friday, March 14th.

Insider Activity at Copart

In other news, Director Steven D. Cohan sold 94,997 shares of the firm’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $60.01, for a total transaction of $5,700,769.97. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James E. Meeks sold 100,000 shares of Copart stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $54.00, for a total transaction of $5,400,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 200,000 shares of company stock worth $11,401,000 in the last three months. 9.68% of the stock is owned by company insiders.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.